Economy: Growth

Lord Clement-Jones Excerpts

Wednesday 18th July 2012 Lords Chamber

[Lord De Mauley]

I cannot give the noble Lord the details that he asks for here because it would take too long, but I will write to him.

[Lord Clement-Jones]

My Lords, we all want to see a strong business and growth strategy legacy from the Olympics, particularly looking beyond the next few weeks, and we want to sell our capabilities internationally. However, does not the insistence by the IOC that some 75,000 of our businesses cannot associate themselves as having been suppliers to the Olympics rather militate against that?

[Lord De Mauley]

My Lords, my noble friend raised this point in a debate the other day. The building of the Olympic park and other Games venues for London 2012 has been a great success story for the UK. In order to secure over £1 billion of sponsorship, restrictions on marketing rights have had to be put in place. The many thousands of suppliers for both the build and the staging of the Games have received a full commercial rate for their goods and services. However, the Government are committed to working with the British Olympic Association and others, and through them the IOC, to find a way to ensure that contractors and subcontractors can seek a form of recognition of their superb contribution to the Games.